Copeland Capital Management LLC Buys 23,996 Shares of Churchill Downs, Incorporated $CHDN

Copeland Capital Management LLC boosted its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 9.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 265,569 shares of the company’s stock after purchasing an additional 23,996 shares during the quarter. Copeland Capital Management LLC’s holdings in Churchill Downs were worth $23,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Churchill Downs by 38.2% in the 1st quarter. Bessemer Group Inc. now owns 46,141 shares of the company’s stock worth $4,145,000 after purchasing an additional 12,744 shares during the last quarter. Twin Capital Management Inc. bought a new position in Churchill Downs during the 1st quarter valued at about $1,027,000. Sanctuary Advisors LLC lifted its holdings in Churchill Downs by 0.5% during the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock valued at $2,479,000 after purchasing an additional 125 shares during the last quarter. State of Michigan Retirement System boosted its position in Churchill Downs by 1.9% in the first quarter. State of Michigan Retirement System now owns 15,980 shares of the company’s stock valued at $1,435,000 after buying an additional 300 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Churchill Downs by 4.9% in the first quarter. Principal Financial Group Inc. now owns 148,969 shares of the company’s stock valued at $13,382,000 after buying an additional 6,916 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Citizens Jmp boosted their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Mizuho increased their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Truist Financial set a $145.00 price objective on Churchill Downs in a research note on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.50.

Churchill Downs Price Performance

Shares of CHDN stock opened at $83.95 on Friday. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm’s 50 day moving average is $87.00 and its 200-day moving average is $92.32. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.57 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. During the same quarter last year, the business posted $1.07 earnings per share. Churchill Downs’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts forecast that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.